Synchrony Bank

Synchrony Bank is one of the largest credit card issuers in the United States, though most consumers interact with its products through store-branded cards rather than under the Synchrony name directly. If you have a store credit card from a major retailer, a healthcare financing account, or a home improvement financing plan, there is a good chance Synchrony is the bank behind it. The company issues cards on behalf of hundreds of retail, medical, and home-related partners.

Synchrony cards generally fall into two types. Private label cards can only be used at the specific store or group of stores tied to the account. Co-branded cards carry a Visa or Mastercard logo and can be used anywhere that network is accepted, while still earning rewards tied to the partner brand.

Many Synchrony retail cards offer deferred interest promotional financing, which is different from true zero-percent interest offers. With deferred interest, if you do not pay the full balance before the promotional period ends, interest is charged going back to the original purchase date. Consumers should read the terms of any promotional offer carefully before assuming they will pay no interest.

If you pay your full statement balance each month before the due date, you generally avoid interest charges on standard purchases. Carrying a partial balance means interest accrues on the remaining amount at the card's stated annual percentage rate.

Synchrony also offers its own consumer banking products including high-yield savings accounts and certificates of deposit through its online banking platform. Credit card terms, credit limits, and approval criteria vary by product and applicant. Synchrony Bank is FDIC-insured. Review the full card agreement including the APR, any annual fee, and promotional financing terms before applying.